Types of Insurance

Many types of insurance policies are available to families and organizations that do not wish to retain their own risks.

Life/Health or Property/Casualty Insurance
Life/health insurance covers exposures to the perils of death, medical expenses, disability, and old age. Private life insurance companies provide insurance for these perils, and individuals voluntarily decide whether or not to buy their products. Health insurance is provided primarily by life/health insurers but is also sold by some property/casualty insurers. All of these are available on an individual and a group basis. The Social Security program provides substantial amounts of life/health insurance on an involuntary basis.

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Author: Donna Woods

  • 6+ years of experience in financial analysis
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